Notification Items Regarding Advertising, Etc. Pursuant to the Financial Instruments and Exchange Act

Risks and Fees

Notification Items Regarding Advertising, Etc.
(Notification Items Pursuant to Article 37 of the Financial Instruments and Exchange Act)
If you decide to enter into a business arrangement with our company based on the information described in materials presented along with this text, we ask you to pay close attention to the following items.

Trading Commissions

In addition to the purchase price of a financial instrument, our company will collect a transaction agency, intermediary or other trading commission* for each transaction as agreed beforehand with you. Since commissions may be included in the purchase price or may not be charged for certain transactions, we recommend that you confirm the commission for each transaction.

Risks to Note in Transactions

• Losses may incur due to changes in the market price of financial instruments based on fluctuations in interest rates, exchange rates, stock prices, real estate prices, etc.
• Losses may incur from changes in the securities issuer's business and financial conditions, etc as a direct cause.
• Such silent partnership investment interests, trust beneficiary rights and certain other securities may encounter a risk of being unable to dispose, or being able to dispose only at below purchase. In addition, there is a risk that the securities price or appraisal value cannot be properly estimated due to such reasons.

Accounting and Tax Treatments of Transactions

Before engaging in any trading, please thoroughly confirm accounting and tax treatments regarding your trading in financial instruments with such experts as certified public accountants.

• The amount, maximum amount or calculation method of the transaction agency, intermediary or other trading commission shall not be stated in advance, but they shall be determined upon between the Client and the Company based on the current market conditions and each transaction, etc.

When making an actual transaction, please be sure to carefully read the materials presented to you prior to the execution of agreement, and to take responsibility for your own decisions regarding the signing of the agreement with our company.

Trade Name: Daiwa Real Estate Asset Management Co. Ltd.
Financial Instruments Business Operator: Registration No. 355 (Financial Instruments), Director General, Kanto Local Finance Bureau (Kinsho)
Member of Investment Management Association of Japan
Member of Type II Financial Instruments Firms Association